A typical forex transaction

There would, in Singapore, be these money changers.  They would have a board behind them, with the buying and selling prices for various currencies listed in electronic red.  But you wouldn’t get those rates!

Typically the transaction would go like this:

Q: What is the rate for USD today?

A: You want to buy or you want to sell?

Q: Buy

A: How much?

And then the quote.

This is how markets function.  Frustrating isn’t it?


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: